Consumer-directed plans encourage employees to make wise, cost-conscious decisions. These products combine a lower-cost, high-deductible PPO health plan with a tax-advantaged medical account:
Blue Priority HSASM — A qualified high-deductible health plan that allows employees to open a Health Savings Account (HSA).
Employees pay the full cost of their care up to the deductible, but can use an HSA to save and pay for these medical expenses tax-free. Preventive care, including routine physical exams, is covered in full.
If employees don’t use their entire HSA balance in a year, it rolls over from year to year and can grow through investment earnings.
Blue Priority HRASM — A high-deductible health plan combined with an employer-paid Health Reimbursement Arrangement (HRA).
As the employer, you decide how much to contribute to the account and what medical expenses qualify for reimbursement. Employees pay the balance of their medical expenses up to the plan deductible. Preventive care is covered with a low copayment.
Depending on your plan design, unused HRA funds may carry over to the next plan year and grow as long as the employee remains in the plan. You keep any HRA balances if an employee leaves the company.